Rapid Therapeutics Science Laboratories (OTCMKTS:RTSL) ended with double-digit rally on Thursday after announcing a key update.
Market Reaction
On Thursday, RTSL stock soared 19.50% at $0.27 with more than 11k shares, compared to its average volume of 27k shares. The stock has moved within a range of $0.2700 – 0.2800 after opening the trade at $0.28.
Rapid Therapeutic Science Laboratories Secures Upgraded Laboratory and Manufacturing Facility
Biopharmaceutical company Rapid Therapeutics Science Laboratories (OTCMKTS:RTSL) on November 11, 2021, announced the launch of the new facility located in Addison, Tex.
Rapid Therapeutics Science Laboratories, which has developed a new method of manufacturing metered-dose inhalers containing one or more patent-pending pharmaceutical-grade cannabinoid compounds, has taken on the new 8,566 square foot property.
For the property, the firm has secured a five-year lease, double the size of the current facility of the firm, and gives storage four times for raw materials as well as outside storage.
Furthermore, the facility will be housing a filling lab to be made to ISO 13485 Standard with 350% more capacity for MDI than its current facility, sublingual as well as a topical aerosol.
The isolate manufacturing lab will have the capacity to manufacture 15 kilos per day of pharmaceutical-grade isolate and also have a corporate office to house 20 staff.
Donal Schmidt, Rapid Therapeutic’s CEO, said that the new facility will have tremendous improvements over the current labs both in manufacturing as well as capacity. Schmidt added that it would keep close the entire employee base in an area with an educated workforce.
With a 50% lower rental rate than the current setup, the CEO said that he hopes to inhabit the space by quarter one of the calendar year 2022.
Key Quote
“This new facility provides significant improvements over our current labs both in terms of capacity and manufacturing all while keeping close to our entire employee base in an area with an educated work force, all at a 50% lower rental rate than our current space,” commented Donal Schmidt, Rapid Therapeutic’s CEO. “We look forward to completing the build-out and inhabiting the space by the end of the first calendar quarter of 2022.”
